Published on September 19th, 2014 | by FinanceLoophole0
Can’t Pay Sunny Payday Loan What Can I Do
Struggling to repay Sunny Payday Loan if you are then don’t panic – you are not alone.
The first thing you should do if you are having problems paying your sunny payday loan is contact your lender as soon as you can. Sunny customer support number is 0800 7315 444.
This should not only help to minimise any penalty charges or interest that may be imposed by your lender but will also prevent more debt building up. Under Office of Fair Trading (OFT) rules lenders are obliged to help you.
Lending Guidance For Sunny Payday Loans
The OFT’s Irresponsible Lending Guidance say that lenders have to treat their borrowers who are in financial difficulty fairly and with patience. In reality this means that they should work along with you to set up a repayment plan to arrange to repay your debt over a reasonable time span.
If your lender does take any action against you because of non/late payment of your debt your lender must be proportionate in what they do. This means that they are not able to reposes your house just because you haven’t paid your payday loan.
If you believe that Sunny Payday lender has been irresponsible, you can complain about the lender.
Sunny Payday Lender is regulated by the Financial Conduct Authority and is on the Financial Services Register under FRN 594425.
Sunny are also members of a number of trade bodies. These include the Consumer Finance Association (CFA) , the principle trade association representing major short-term lenders operating in the UK. As a member, they work to the standards set out in the CFA Code of Practice.
They have signed up to a customer charter which requires members to:
- Deal with cases of financial difficulty sympathetically and positively
- Tell you how the payday loan works and the total cost of the loan (including an example of the price for each £100 borrowed, together with fees and charges) before you apply
- Freeze interest and charges if you make repayments under an agreed and reasonable repayment plan, or after a maximum of 60 days of non-payment
Yes OK But What Can I Do About My Sunny Payday Loan?
If you owe more than a certain amount, you can use a debt management company who will deal with the lender for you. A debt management company has expert knowledge of the law and your rights about your payday loan debt. They will contact your payday lender, and make it easier for you to pay back your payday loan debt with Sunny. Debt management companies can stop excessive contacts from your payday lender, and work with your lender on your behalf to negotiate a repayment plan which works for you and won’t empty your bank account at the end of each month. Depending on your personal circumstances, they may be able to cut or even halt the high interest rates on your payday debt. A decent company will not only give expert help with payday loans, but will not charge any upfront fees. This link will take you to the only one I know that will be able to help you out.
Alternatively you can go down the DIY route and do it yourself by writing to your payday lender yourself using the free templates we offer. If the payday loan company is calling you at your home, your workplace, on your mobile phone all hours – chasing you to pay them back, a simple template can put a stop to them. Fill in your details, then post it to the lender who is causing your payday grief. The templates are designed to remind the payday lender of your rights, and let them know that you will not put up with bullying or unaffordable repayments.
If you have any questions don’t hesitate to contact me using the form on the right hand side of this page.
And don’t forget to leave some feedback on Sunny payday loan lender on this page.